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Registration for VAT – it is mandatory to register your business for VAT if the turnover exceeds £85,000 within last 12 months. If the company does not hit the threshold, it is possible to register voluntarily. In this instance, it is down to self-employed or company to apply for the VAT registration and HMRC only looks into and approve. Subsequently to the registration, the company needs to charge VAT (output VAT) on supply of goods and service and record VAT on purchases (input VAT). The difference between output and input VAT makes up the VAT liability for the period.
VAT registration increases the companies’ credibility because in the general perception, the company needs to exceed the threshold of £85,000 to become registered. Not many people are aware of voluntary registration.
VAT number itself enables to verify the name and the address by creditor or bank. VAT registered firms enjoy the advantage of re-claiming full VAT paid on purchase of plants, tools, equipment, etc., which is why many companies decide to register at early stages or at point of investment into fixed assets.

VAT de-registration – it is possible to de-register the company from VAT if the last 12 months turnover fell below £85,000 threshold. It needs to be a relevant form sent to HMRC to action the request.

Company name change – During the process of registering the Limited company, it is very important to define the name under which company will be trading. However, reality check sometimes proves the company name to have not gone down well with the customers and there is a need of change. The company then needs to give notice of a special resolution on change of name during general meeting. The name of the company can then be changed on-line or by way of filling out special form and posting to Companies House. There is a fee of £12 chargeable on every motion to change.

Dissolution of the company – there are few ways to discontinue the company, depending on its financial position. In case when a Limited company has got outstanding liability to pay to its creditors, the liquidation process takes place. A liquidator gets appointed, whose job is to extract the company’s assets and use them to pay off any remaining debt before the company gets dissolved. The process preceding dissolution entails gradual turning off the company’s activities, closing bank account, disposal of the company’s assets and redistribution proceeds among the creditors (including HMRC), VAT de-registration, issuing P45 documents to employees and filing relevant request to Companies House (striking off).

Confirmation statement – Used to known as Annual Return. It is a form of return stating a non-financial status of the company. It needs to be filed in Companies House at least once a year. Dormant companies are also required to file the confirmation statement. Failure to submit the confirmation statement is a criminal offence and directors can be fined of up to £7,500. Lack of submission entitles Companies House to strike off the company from the register and take possession of all its assets.

Payroll – if you have started the company and took on employees, you need to register your business as employer. The registration entails the various obligations that you will need to fulfil, such as sending the information to HMRC about salaries, statutory maternity pay, statutory sick pay, making deductions of income tax and NIC and transferring them to HMRC on behalf of employees. Employer is obliged to issue payslip documents – highlighting gross salary, income tax and NIC deductions, take home salary and others. Payslip document has to be issued no later than on the pay day. Another responsibility is to issue the P45 to employees leaving the company and P60 to existing employees once a year. Both documents contain the accumulated gross salary and deductions for the tax year.
Our practice offers comprehensive approach to payroll relates matters, i.e. we not only perform the payroll itself but also offer professional advice & fulfilling all formalities. As the agent authorised by yourself, we can contact, communicate and answer all queries the HMRC shell ask.

Address in the UK – we can provide you with UK registered office address to use for registration with Companies House. The incoming post will be re-directed to any address specified by company directors or scanned and sent by email. The product is available for at least 1 year and is payable up-front. The price depends on the post code.

Official letters – we can come to help you writing the official letters and professional correspondence